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Home My WebLink About1527~ ~ ~: ,. . sN~~ '~~ ~ apply such I'Ph1R, issuea und protils rctieived by it on the indebtedness scrumd hereby in surh orcler u's 14~or~gugec deter minrs. 7'he righl to enter i~nd tuke ~wss~~~ion o( the Mortguged Pn,~~erty, to munuge und o~ierute the sum~, und to collect ltie rents, issues And profita thereot, whether hy n re<~eive~ or othemise, ahall lxs cumulative to uny other right or remrdy hereunder or attorded I~y I~w, nnd may l-e exen•ised coocur[enlly therewith ar independently then~of. Mortgagee ahAil be lis~l-le lo iurount only for su~•h rents, issues and ptofils iu•tuuity retrived hy Mortgugee. 14. It thP indebiedneeaa xecurcd herehy is now or herna~fter further securecl 6y chattet mortgages, security interesta. (inuncing atutementa, pledgrs, contrncta of guur~~nly, ~~ignmpnts of leasea, or other securitiea, or if the Mortgaged Pro- ~-erfy hereby encumbered consisls of more thun one ~k~nrl ot r~ul property~ Mortgagee mey al ite opliot~ exhuust any one or more ot ~id securities und security hereunder. Oi 8UCF1 ~k'ITMIR of the secu~ity hereunder. either rnncu~rently or inde- Exndently, and in such orde~ us i! mny determine. 15. This Mortgnge ahull eecure no4 only existing indebtedness, bul s~lso such (uture udvanrea, whether auch advances Am obligatory or to be mnde ut the option ot Mortgugee, or otherwise, ns nre mnde within twenty (20) yeara fwm the d;~te hereof, to the s:ime rztrnt ae if auch tutum advan~~es were mude on ihe date ot the execution ot thia Morignge, but such sc~•ured indebtedness shall not exceed nt any time the mnximum principal amount ot i N/A plus intereat, t~nd any disbursementa mude tor lhc {wymenl ot laxes, levies, or i~sumn~r, on lhe Martgaged Property, with inte~esl on such dishursementa, A~y such tuture advaniti•s, whether o~digatory or to he made a! !he option of the Morig:~gee, or otherwise, may t-e made either prior to or after fhe due date of the Note or any other notes secured I~y this Mortgage. This MoNgaRe is given for the speritic pury~ose ot securing any and nll indebtedness by lhe Morigagor to Morigagee (but in no event shal! the secumd indebtedness exceed ut ~~y time the muximum princi~xil amount sQt forth in this ~~r.+gr.~ph> in whate~~er manner this indebtedness may t~e evidenced or re~~resented, unti! this 111ortgage is s:-tistied of rc~~ord. Al) coven- ar~Ls and :~greementx contnined in this MortgaRe shuif t~e appii~:~ble tu a{I turiher ad~:zncrs made hy Mortg:~g~ to Mortgagor under this tuture ad~•ancr clAUSe. 16. No delay by Mortgt~gee in exercising :~ny right or remedy hemunder, or otherwise aiftorded by law, shall operatc ns a waiver thereof or preclude the exerc•ise themof during the continuunce of ainy default hereunder. No w•aiver hy Mortgagee of any default shall constitute a wt~iver of or consent to subsequPni defaults, No failure of Mortguqee to exemise any option herrin given to acceler.de maturity of the debt hereby secured, no totbearance by Mortgagee 1-e(ore o~ atter the eScercise ot such option and no withdrawal or at~ndonment of foreclosure proceeding by Morigagee shaU be taken or con- strued as A waiver ot its right lo ezercise such option or to acceler.~te the malurity of the deht hereby sec•ured by reason of any ~~si, present or future def.iult on the ~~.~rt ot 111ortgagor: and, in like manner, the procummenl o( insutan~~e or the ~~a~y- ment of taYes or other liens or i•harges by 11lortg:~gee shaU not i~e t:~ken or iY-nsiruecl as a waiver of its right to :~c~•eler.~le the rrmturity oI the debt hereby scti•ured. 17. Without affecting the liahility o( hlortgagur or ~ny other ~~e~n (except .~ny ~mrson expressly relet~sed in writinR) tor ~k~ymenl ot uny indelitednc~ss sec•ured hemby or (or pertorm.~nce of any obligation rnntained hetein, .ind v-ithuut af(PCt- ing the rights of MottRaRee with res~~•t to any sec•urity not expressly t+eleased in writing. Mortg:~Rer may, :il :my time and from time to time, eifher before or a(ter the maturity of said note, and withoal notice or consent: (~) Releax any ~x~r~n tiable for ~~:+yment ot all or any ~u~rt of ihe indebte~lnrss or for ~-er(orm:ini•e o( any ubG~~stion. (b) Make any aRreement extendinR the time or otherwisc :~Itering ihe terms of i-:~yment of ~I! or :lny ~~3rt of the indebtedness, or mcxli/yinR or w:~i~~inR :iny obligation, or suiwrdinatinR, moclifyinR or otherv-•ise deatinR with the lien or ~•ha~g~ hereof. (~•) ~:xeri•ise or refr.~in from excn•ising or wai~~r any riqhl I~1ort~aKre may ha~•e. (d1 Acirpt addilionai secvritv of any kind_ (e) I2eleasr or otherwise~ deal a-ith any I~ro~-eriy, real or ~~ersonal. sc~c•uring the indebtedness, ini•IudinK :dl or any ~-:+rt of the Rlortgaged Properiy. lti. Any agteemrnt hem.Jter madc hy Mort~aKor and A1ortR:~Ree pursuant to this mortRaRe sh:dl be su~-erior fo the ri~hts of the holder of any inten•eninR lien or encumbrance. 19. Mottgagor hereby w,iia•PS :dl riRht vf humestrad exemption, i( any, in lhr MortRag~d I'ro~terty_ 20. In the event of condemnation pru~•c~t~dings o( the Mortg:~geci ProE~erty, the award or :~om~xns~tion ~iayable there- under is hereby assegnc~! to and shall br E~id to Mortgagee. 111ortgagee shall be under no obligation to question the amount o( any such award or com{~ensation and may ac~•ept the same in ihe amount in which the same shall he ~kiid. In any such ~-ondemnation prix-erdings, I1lorigaRee may t-e mpresented 1~y irunsel selec•tecl by MortR:sgee. The prcxti~is of any awanl or compensation so received shaU. at the option ot blortgaRee, either be applied to the pre~~ayment of the Note :ind at the rate of iqterest pro~~idctil lhereirl, nKardless.ot the r.~te o( interest ~>ayable on the av~~ard by the condemning authority, or at the option of ;~lortgaRee, such award Sh:~ll tx~ paid o~-er to Aiorfgagor (or nwtoration o( the lltorl~aged Pru{-erty. 21. If D1ort~a~c~, pursu:mt to a~•onstruction loan aRrrement or Inan commitmenl n-ade by hlortKa~ee w•ith MortKaKor, a~mes to m:ike i•onstrui•tion loan advancc~ up to the prim•i~~:d amount ot the Notr, then Mortga~or hereby covenants that it w•ill comply w•ith all of the terms, pm~•isions and co~•enants of s:~id constrw•tion la:~n aRreement or lo:~n ~•ommitment, will diliRently construct the impma•ementg to be buil! punuant to thr terms thereo(, al) of the terms thereof which are in- ~ror~x~r.ilecl herein b~ reference :~s thoukh set forth fully herein and wilt ~~ermit no defaults to occur thereunder and i( a de- fault shall oci•ur thereunder, it shall constitute a defaull under this Mortgage and the Note. '22. At the optic,n of MortQaRer, TiorlK.iKor sh:~ll prm•ide A1ortRaRee with {~erioclic cerlified auditecf statements of the tin:~ni•i:d ~ondition o( MortRaRor. 23. A1urtKaKor repn_~•nts and warr.iMs lhat if a~•or~wr.Nion, it is duly orRanized :md ~~alidly existin~, in Rooct stand- inK under the laws ~~f the slat~• of its im•or~-nr.Uion, has st«•k outstanding w•hich h:is been duly and ~•alidly issuc~d, :ind is yualific~cl to do business :~nd is in Kood standing in the St:~te of Florida, with full ~~wer and authority to consummate the loa» contemplated henby: and, if a ~~rtnership, it is duly tormed and ~~alidly exisling, and is fully qu:dified to do husiness in the State of Florida: with (uU ~~ow•rr and aulhorily !o consumm:~te the loan contemplated hereby_ 24. ]n lhe event any one or more of the procisions contained in this Alortgage or in the l~ote shall for any reason t~e held lo Ix invalid, illegal or unenforceable in any res~,ca•t, such invalidity, illegality or unenforceablity shall, at the option of the MortKaKee, not affcK•t :~ny other pmvisi~~ns ot this 11lort~a~e. 1-ut ihis 141ortqage shall t-e construed :~s if su~•h ~nti•.ilid, iUeK:il or unentonr:~ble ~~ro~~ision had nev~r I~ee•n contain~d herein or themin. The lotal intereat {h~yable pursuant lo the Note or this !~tortKaRe shall not in any one ~~~:ir ex~•c~c~d th~ hiKhest lawful rate of interest in the State of Flonda. '25. The ~~vrnants and aRreements herein containc~l sh:~U bind a~nd lhe txnetits .ind advaN:~Res shall inure lo the res~x~•~i~•c heirs, execvtors, administrators, suc~•essors, and a~signs of lhe ~~:~rties hereto. 1~'hem~•er used, the singular num{~er shall include thc plurai, the plural the sin{;ul:~r, :+nd the use of ~~ny Render shall tx ap~>licable to all genders. Atl co~~en.~nt~, agreements and undetf:ikinga shall i-e joint .~nd several. In the e~ent :~ddition:~l numbered covenants or para- graphs are tor com•enieni•e inserted in this 1~1ortQaRe, such :~ddition:~l ~•o~~enants shall 1-e rrad and Ri~•en etfect as though tollowing this co~•enaM ~n ~onscrutice order. ~~~ -3- 1526 7 :!?K ~ PAGE